Duplex with Updated
For Sale
$399,000
158 Troy Road, Ithaca, NY 14850
The stacked residences each include separate living space and a three-bedroom layout.
Property Size2,981 SF
Price / SF$133.85
Days on Market99
Property Features for 158 Troy Road
General Information
Standard status
Active
Size
2,981 SF
Property subtype
Multi Family Home
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,847
Building Details
Building Size
2,981 SF
Year Built
1988
Stories
1
Units
2
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Jill Burlington · License #30BU0950986
(607) 592-0474
Source:
Franzese-realestate
Added: Jul 24
Changed: Oct 26
Last Checked: Oct 29 at 10:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Warren Real Estate of Ithaca Inc.
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Investment Insights
Based on property information with market context.
This 2,981-square-foot duplex contains two stacked units, each configured with three bedrooms and one and a half bathrooms. Built in 1988, the property received flooring updates in 2026: the upper unit has new carpet and LVP, while new LVP was installed in the lower unit’s kitchen and two bathrooms.
The property is in Ithaca’s South Hill neighborhood, near downtown, Cornell University, Ithaca College, shopping, dining, parks, and public transportation.
The property is in Ithaca’s South Hill neighborhood, near downtown, Cornell University, Ithaca College, shopping, dining, parks, and public transportation.
Key Highlights
- Two‑unit duplex with 2,981 square feet
- Each unit has 3 bedrooms and 1.5 bathrooms
- Built in 1988
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,566
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,320
$731.3K
Cap Rate 7%
$522,371
$522.4K
Cap Rate 9%
$406,289
$406.3K
Market Conditions
NOI Build-Up for 2,981 SF
Gross rent
$69.4K $23.28/SF
− Vacancy
−$2.9K −$0.98/SF
EGI
$66.5K $22.30/SF
− OpEx
−$29.9K −$10.04/SF
NOI
$36.6K $12.27/SF
Area
Tompkins County, NY
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,320
Cap Rate 7%
$522,371
Cap Rate 9%
$406,289
Alternative Uses
Best Use
Multifamily LT 5
$563.7K
$493.2K – $657.6K
NOI $39,457 @ 7.0% cap · market cap 9.89%
Second Best
Apartment 5plus
$522.4K
$457.1K – $609.4K
NOI $36,566 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$930.2K
$813.9K – $1.09M
NOI $65,114 @ 7.0% cap · market cap 16.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
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Business Placement
Demographics for 14850, NY
69,271
Population
31,772
Households
2.2
Avg Household Size
29
Median Age
72%
College-Educated
96%
High-School Grad
124.8 sq mi
ZIP Area
555
Density / Sq Mi
$69,689
Median Household Income
$36,115
Median Earnings
$1,446
Median Rent
$334,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The stacked residences each include separate living space and a three-bedroom layout.
Where is this duplex located?
The property is located at 158 Troy Road Ithaca, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,981 square feet; Each unit has 3 bedrooms and 1.5 bathrooms; Built in 1988
